CureJoy, HealthTech Startup raises Series A funding

CureJoy, Online platform connecting the users with medicine experts has raised $4.4 million in series A round of funding. The round was led by one of the existing investors, Accel Partners. Along with that, there were a bunch of individual angel investors who participated in the round.

The raised funding will be used to grow the business verticals it is covering currently. The startup covers things like fitness, nutrition and beauty; and it plans to cover more segments like pregnency, yoga, recipe. Also, it will use the raised funds to expand the team and strengthen the technology as well as to get more content, specially video.

Based out of Bangalore and San Francisco, CureJoy was founded in 2013 by Dave and Srinivasa Sharma. It is an online curator of content on natural health and wellness. Mostly, it caters to the preventive healthcare segment.

According to a company official, the startup has around 42% of its users from the United States, 19% from India, 20-25% from the rest of western world and the remaining from other parts of the globe. Recently, the startup hired Robert Lutsky, the former sales head at Washington Post Digital as its VP for sales in United States region.

Prior to the latest round, CureJoy had raised $350,000 in seed round from Access partners India with the participation from various other US based Angels. Further, it had raised $1.15 million in pre Series A funding from Accel Partners and other investors in September last year.

CureJoy was launched as an online portal where the users could come and ask their health related questions. Upon realizing the worth and importance of the quality content in healthcare segment, the startup started to provide curated healthcare content from the experts.

It has not started charging the users as of now, however, it plans to do so in the coming time. Speaking on the development, Dave stated that there is a freemium model currently in discussion, which might be implemented by the end of this year of the early next year. Also, there are plans to launch a separate Spanish channel, which will target the Spanish speaking population in American and European areas.

It claims to have over 5000 experts in various verticals including natural health sciences, traditional Chinese medicines, Yoga, Ayurveda and naturopathy. The aim is to shoot the number upto 50,000 by the end of 2017. CureJoy does not pay the experts based on their contribution, however, they gain a great digital presence along with a lot of customers for their services.

The content is available on the website as well as the mobile app. According to Dave, there are over 14 million monthly visits and out of which, over 80% come from the mobile devices. The portal expects to touch 25 million visitors per month by this year end.

It is supposedly doing $1.4 million in annual run-rate and plans to go further upto $10-$15 Million in revenue by the end of 2017.

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Kunwar Prithvi Singh Chauhan, popularly known as Kiddo in surroundings is a teenage entrepreneur and a public speaker. He loves to explore new places, taste new dishes, make new friends and read awesome content. +KunwarPrithvi